Lucky Strike Entertainment (NYSE:LUCK) Trading Down 5.3% – Time to Sell?

Lucky Strike Entertainment (NYSE:LUCK) dropped 5.3% during mid-day trading on Tuesday . The stock traded as low as $7.94 and last traded at $7.73. Approximately 5,300 shares were traded during trading, a decline of 96% from the average daily volume of 148,618 shares. The stock had previously closed at $8.16.

Analyst Upgrades and Downgrades

LUCK has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut Lucky Strike Entertainment from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $8.00 to $6.00 in a research report on Thursday, April 23rd. Weiss Ratings restated a “sell (d)” rating on shares of Lucky Strike Entertainment in a report on Monday, May 4th. UBS Group cut Lucky Strike Entertainment to a “hold” rating and set a $6.50 price target on the stock. in a report on Thursday, May 7th. Stifel Nicolaus set a $9.00 price target on Lucky Strike Entertainment in a report on Thursday, May 7th. Finally, Jefferies Financial Group set a $12.00 price target on Lucky Strike Entertainment in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.69.

Lucky Strike Entertainment Stock Down 6.1%

The firm has a fifty day moving average price of $8.23 and a 200-day moving average price of $8.30. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -12.18 and a beta of 0.60.

Lucky Strike Entertainment (NYSE:LUCK) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.07). The firm had revenue of $342.23 million during the quarter, compared to analyst estimates of $353.77 million. Equities research analysts anticipate that Lucky Strike Entertainment will post -0.15 earnings per share for the current fiscal year.

Lucky Strike Entertainment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.06 per share. The ex-dividend date was Friday, May 22nd. This represents a $0.24 annualized dividend and a dividend yield of 3.1%. Lucky Strike Entertainment’s dividend payout ratio (DPR) is -38.71%.

Insider Buying and Selling at Lucky Strike Entertainment

In related news, insider Lev Ekster sold 3,000 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $8.47, for a total value of $25,410.00. Following the transaction, the insider directly owned 64,296 shares of the company’s stock, valued at approximately $544,587.12. This trade represents a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 84.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LUCK. Geode Capital Management LLC purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth $2,661,000. XTX Topco Ltd purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth $123,000. Invesco Ltd. purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth $114,000. Jane Street Group LLC purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth $1,117,000. Finally, Bank of America Corp DE purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth $94,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Corp. engages in operating bowling centers. It offers entertainment concepts with lounge seating, arcades, food and beverage offerings, and hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. The company was founded by Thomas F. Shannon in 1997 and is headquartered in Mechanicsville, VA.